Family Business Center
Preparing the Next Generation to Own the Family Business
Friday, March 28, 7:30 AM
Ownership of your family business requires a specific list of skills for the next generation beyond day-to-day management of the company. Hear from other family businesses about how they prepare future owners to understand their roles, how and when they started preparing the next generation and the tools they have used.
Panelists from Marvin Windows and Doors
Dan Marvin is the business manager for Infinity from Marvin, a division of Marvin focused on providing high quality, low maintenance Ultrex fiberglass replacement windows to homeowners. With an undergraduate degree from the University of Notre Dame and an M.B.A. from Southern Methodist University, he is a member of the fourth generation of Marvins to work for the family-owned and operated window and door company. He also serves on the board of directors.
Christine Marvin is the director of marketing for Marvin Windows and Doors, and is responsible for planning, development and implementation of the Marvin brand product, pricing and marketing strategies. With an undergraduate degree from Macalester College and an M.B.A. from the University of Denver, she is the fourth generation of Marvins to work for the family-owned and operated made-to-order window and door company. She also serves on the board of directors.
Paul Marvin is vice president of sales at Marvin Windows and Doors, and is part of the fourth generation of his family to own and run the century-old business. He currently serves on the board of directors for The Marvin Companies and the Northwestern Minnesota Manufacturers Association, and is a member of the National Eagle Scout Association. Marvin is a 1997 graduate of The College of the Holy Cross in Worcester, MA, where he received a B.A. in Economics.
Ritch Sorenson, Ph.D., is a full professor and the Opus Endowed Chair in Family Business at the University of St. Thomas, and the academic director of the Family Business Center. Before beginning his academic career, he was a third generation owner in a bank. Prior to his tenure at St. Thomas, Sorenson was the Trinity Company Professor of Management at Texas Tech University, where he was recognized for excellence in teaching, served as area coordinator for Management (department chair) and directed the centers for Entrepreneurship and Family Business, and for Communication. At Texas Tech University, he was an early pioneer in establishing a family business emphasis in management. Sorenson continues to build courses and education programs in family business at the University of St. Thomas.
A note to family business advisors: The breakfast series is restricted to members of family businesses.